December 2023 Georiga Housing Indicators
The December 2023 Georgia Housing Indicators data shows a slight increase in New Listings and decreases in both Pending Sales and Closed Sales year-over-year. Meanwhile, both Average and Median Sales Prices continued rising. Additionally, the Housing Supply Overview showed changes in which properties sold the quickest and slowest in terms of price range.
- New Listings increased one percent to 8,869
- Pending Sales decreased two percent to 7,114
- Closed Sales were down seven percent to 8,554
- Days on Market increased five percent to 44 days
- The Median Sales Price increased five percent to $340,000
- The Average Sales Price increased seven percent to $410,867
- Inventory levels decreased three percent to 25,750 units
- Months Supply of Inventory was 2.5 months
In terms of the Housing Supply Overview, which analyzes key metrics concerning price range, property type, and bedroom count, the Townhouse/Condo segment showed the most significant price gain, with Median Prices increasing by seven percent to $315,000. The data further revealed that properties within the price range of $200,000 to $349,999 sold the quickest, typically taking 37 days to sell. On the other hand, properties priced at $350,000 to $499,999 took the longest to sell, with an average of 42 days on the market. Regarding inventory, the Townhouse/Condo segment experienced a 23 percent increase. There is 2.5 months supply for Single Family homes and 2.4 months supply for Townhouse/Condo.
Click here to access the full reports (page is password-protected). PLEASE NOTE: The 2023 Georgia Housing Market Annual Report will be published soon.